You paid $725,000 for a duplex and financed 75% of the purchase price. Your forecasted cash flows for the property are listed below and you expect to sell the property for $740,000 at the end of year 5 and you owe $499,318.73 on the property. What is your expected internal rate of return?

Cash flow - year 1 $16,000

Cash flow - year 2 $17,000

Cash flow - year 3 $16,000

Cash flow - year 4 $15,000

Cash flow - year 5 $18,000

Answer should be formatted as a percent with two decimal places.